One of the nation’s real estate investment firm, LuxuReal International, Inc., is leading real estate development firm in the Philippines with a website located at http://www.myluxureal.com/
Posts Tagged Markets
LuxuReal International, Inc. markets top Philippine Real Estate projects
Posted by james in Real Estate on January 25th, 2010
LuxuReal International, Inc. is a top real estate marketing firm which markets only top Philippine Real Estate properties. LuxuReal International, Inc. aims to provide “luxury living within your reach”, with an array of condominiums, condotels, house & lots, and resorts developed by top names in the Philippine real estate industry. Among the roster of featured developers are top Philippine Real Estate companies such as Avida Land, Ayala Land, DMCI, Earth+Style, G2 Global, Megaworld, SMDC and Vista Land. Featured properties include Ridgewood-towers Taguig, Ponticelli Daang Hari Alabang and Canyon Woods Tagaytay among others.
In its website, www.myluxureal.com, home buyers can have a quick search for a property in preference to location, property type and price. Photos have been included for each property for a better view of sample unit. The website posts brief information such as the amenities, location, nearest road that travellers are familiar with, the typical venues you can see near the property and some write ups of featured properties. You can also browse either by developer or by the latest properties. If you want to be updated you can check out their news and events, and do not forget to view their latest promos posted for some properties to get discounts, add-on furnishing and more.
LuxuReal International is also looking for partners for Philippine real estate projects such as Global Sales Managers, Brokers and Agents and Global Referral Partners.
For more details on LuxuReal International, Inc., visit their website at http://www.myluxureal.com and experience luxury living within your reach.
For inquiries visit http://www.myluxureal.com/contact-us/
LuxuReal International has the primary goal of fully satisfying their customers desire to invest and find their dream homes, condos, farm lots, vacation & beach resorts. They are partnering with the best property developers so that they too can provide their customers the best value for customer’s investment.
Pounce on High-equity Real Estate Markets for Maximum ROI
Posted by james in Real Estate on October 11th, 2009
The credit crunch is fueling the popular belief that investing in today’s real estate markets is a strategy reserved exclusively for wealthy entrepreneurs. This is absolutely false: You don’t need any cash or credit to make a killing.
Generate Cash Flow with Common Sense & Solid Strategies
There are some especially high-performing strategies that are geared for today’s market conditions that require no cash or credit and will maximize your investment returns (ROI). All that is required is a keen eye for uncovering the high-equity real estate deals that spark business growth and the sound strategies that will fill your pipeline with the leads you need to keep the deals flowing.
Why? Because by definition, high-equity properties carry low — or no — mortgage debt. As a result, there are fewer complications and hazards that can slow your deals down and clog your business pipeline. It’s no secret: In this business, delays can cost investors valuable time and money.
Credit Crunch Strikes High-Equity Homeowners
Even among the 24 million homeowners who bear no mortgages on their properties, one-third of them are soon likely to find themselves underwater in these properties. There are many social and economic factors currently at play to imperil homeowner equity, among them are:
- Heavy blows to retirement savings accounts in the recent Wall Street debacle,
- Rising health care costs,
- Spikes in grocery, fuel, education and credit costs,
- Inflation, and
- Unemployment or underemployment.
The Truth about the Credit Crunch in Today’s Markets
Due to the credit crunch, many high-equity homeowners are likely to encounter new challenges in getting the credit lines they need to help them through the rough spots. This is likely to intensify as overall U.S. economic conditions worsen.
Investing in properties that have minimal mortgage burden is a great hedge to protect investors from inflation. This concept is appealing to a growing number of entrepreneurs who’ve been watching the U.S. economy lately.
Mine for High-Equity Deals with Premium Real Estate Marketing Tools
Even in the Information Age, it is easy for investors to get lost in the challenge of generating the leads they need to advance business growth. In this arena, the proven method of real estate marketing via direct mail emerges as a time-efficient and cost-effective option for getting laser-targeted leads on a consistent basis.
Combined with the relative ease of buying houses with equity, real estate marketing via direct mail emerges as a winning strategy for investors. And, because of limited competition and broad reach, this strategy finds the solid high-equity opportunities wherever there is a property that’s worth more than the seller owes in mortgage debt.
With high-equity real estate deals, investors can offer sellers attractive options and also benefit from greater flexibility in how transactions are structured. For example, investors can offer sellers fast cash in exchange for a reduced price, pay for the property over time with a note, or even delay payment until the property is refinanced or sold in the future.
Max-Out Your ROI: Deploy Direct Mail Marketing in High-Equity Markets
There are five major real estate market segments that offer investors the greatest opportunities to access equity. Use sound marketing strategies, such as direct mail marketing, to tap these markets and boost your bottom line.
In many cases, investors can build their own mailing lists based on information housed in public records. Because this information often changes and quickly becomes outdated, many investors choose to outsource their real estate marketing to save time and money on postage.
Using direct mail allows you to systemize and automate your lead generation. This can save you valuable time and money in the investment trenches. There are other benefits to outsourcing your real estate marketing, which we’ll explore later in this article.
The Cream of the Crop: Five High-Equity Markets for Hungry Investors
1. Adjustable Rate Mortgages (ARMs) with Equity:
Homeowners in this segment typically had an ARM for three years or more before the date of sale. If they owe less than 70 percent on the loan relative to the house’s value, these homeowners with equity may be looking to escape their loan commitments before the mortgage resets.
Direct Mail Real Estate Marketing Prescription: Send an optimized, monthly mailing starting with an optimized real estate marketing letter, and then mail three real estate postcards. Repeat the process for desired results.
2. Free and Clear:
To boost profits in this segment, target homeowners with 40 percent to 100 percent equity. U.S. Census Bureau data reveal that property owners in this arena currently control one-third of all single-family homes. Often, they’re near or at retirement age, are empty nesters and are looking to downsize.
Direct Mail Real Estate Marketing Prescription: Once you’ve got this list, mail cost-effective real estate marketing postcards every 90 days.
3. Multi-Family with Equity:
Zero in on sellers with 2 or more units with a maximum loan-to-value of 70 percent or less to buy, hold or flip income properties. High-equity property owners often are motivated to by tenant management and maintenance headaches. They also may like the idea of financing the investor’s purchase if they also can benefit by deferring capital gains taxes and generate cash flow through a note rather than through rent.
Direct Mail Real Estate Marketing Prescription: Mail an optimized real estate marketing letter every 90 days. Afterwards, send 3 real estate postcards and repeat the process until desired results are achieved.
4. Absentee Owners:
Also known as out-of-area owners, this segment of homeowners has a mailing address on public record that differs from the property address. It includes weary and stressed-out landlords with single-family homes and multi-unit properties.
Direct Mail Real Estate Marketing Prescription: Get this list from pouring through county records or from real estate marketing professionals. Send real estate postcards every 90 days and update your list after each subsequent mailing. Revisit your list after a year or more has passed to evaluate the data and your real estate marketing campaign’s success.
5. Wholesale Properties:
These properties are typically about 20-years-old and tend to have deferred maintenance issues and cosmetic challenges. In this category, homes with loans that come in at about 70 of a property’s value can be prime targets for savvy real estate investors.
Direct Mail Real Estate Marketing Prescription: Send an optimized, monthly real estate marketing postcard for 6 months. Afterwards, deploy a 90-day drip campaign.
To Outsource, or not to Outsource?
Not only is effective marketing a mystery for many investors, it is costly, tedious, time-consuming and for many — it is a shot in the dark. Many investors choose to outsource their real estate marketing to minimize these problems — and to benefit from the professional experience and expertise that only a first-rate company that specializes in direct mail real estate marketing can provide.
What to Look for when you Outsource
If you do decide to outsource your marketing, look for a reputable company that specializes in direct mail real estate marketing. In most cases, the workload reduction, superior leads, optimized results and overall headache reduction more than covers the costs. But selecting the right company for the job is critical to your success in the high-equity — or any real estate investing arena.
A great real estate marketing company should have the best lists for any given market segment. The firm should be familiar with what type of mailing (such as postcards or letters) should be used and how often each mailing should be sent to attract your desired response. From experience, they also should be able to tell you how to optimize your mailings to attract the best, most qualified leads.
When you outsource your direct mail real estate marketing, you should receive quantifiable results in your ROI. This includes real-time reporting on the effectiveness of your mailings. In addition, your lists should be regularly “scrubbed” of obsolete and outdated addresses to save you money on postage.
If the marketing company leverages its high-volume business to secure discounts on mailings for investors, you’ll likely know you’ve likely got a good candidate on the line to handle your business marketing needs.
Gary Boomershine grew up in his family real estate business and is himself, a 20-year veteran real estate investor and real estate marketing entrepreneur. He is the founder of real estate marketing leader SalesTeamLive and is the publisher of GaryBoomershine.com, a Web site and blog dedicated to delivering timely original news, strategies and tips to foster innovation and success among real estate investors who are struggling and thriving in today’s challenging markets.
Most Expensive Real Estate Rental Markets In The U.S.
Posted by james in Real Estate on October 1st, 2009
According to “Out of Reach”, the annual report of the National Low Income Housing Coalition (NLIHC), prices of many rental markets have increased sharply over the past few years making affordable housing difficult for low and medium wage workers.
The report reveals a marked disparity between people’s earning and rental housing costs. This difference is sizeable and has increased every year. In fact, the cost of rental housing has gone up by 28% in the past 7 years, much beyond the wages earned by the people who need affordable housing the most.
NLIHC calculated the hourly wage needed to afford the rent and utilities of a market rate rental home in each state. Affordable housing was defined as the cost of a two-bedroom rental home without having to spend more than 30% of one’s gross income on housing costs. The report terms this rate of affordability as the ‘national housing wage’, which has increased to $16.31 from last year’s $15.78.
Housing prices in many rental markets far exceed the wages of the renters, making them the least affordable rental markets. Based on the Out of Reach 2006 report, Hawaii stands at the top of the ten most pricy rental markets for a two-bedroom rental home. Listed below are top 10 most expensive states for rental housing:
1. Hawaii – hourly wage of $23.53 needed to afford a two-bedroom rental home.
2. California – hourly wage of $22.86 needed to afford a two-bedroom rental home.
3. Massachusetts – hourly wage of $22.65 needed to afford a two-bedroom rental home.
4. New Jersey – hourly wage of $21.21 needed to afford a two-bedroom rental home.
5. New York – hourly wage of $20.70 needed to afford a two-bedroom rental home.
6. Connecticut – hourly wage of $20.42 needed to afford a two-bedroom rental home.
7. Maryland – hourly wage of $20.07 needed to afford a two-bedroom rental home.
8. Rhode Island – hourly wage of $19.36 needed to afford a two-bedroom rental home.
9. New Hampshire – hourly wage of $18.10 needed to afford a two-bedroom rental home.
10. Alaska – hourly wage of $17.90 needed to afford a two-bedroom rental home.
The report concluded that a minimum-wage earner making $10,712 a year cannot afford even a one-bedroom home anywhere in the country. The reality is that a wage earner needs to make $28,475 per year to afford a two-bedroom rental home. Families with two minimum-wage earners need to make at least $33,925 to afford a two-bedroom rental home.
Top 20 Real Estate Foreclosure Markets, Mid-Year 2007
Posted by james in Real Estate on September 23rd, 2009
Stockton, California reported the highest foreclosure rate among the nation’s 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac’s 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in the top 100 metro areas for the first half of 2007. As foreclosure rates continue to rise, 82 out of 100 metro areas recorded year-over-year increases in foreclosures.
Stockton reported one foreclosure filing for every 27 households with a total of 8,169 foreclosure fillings on 4,239 properties. The rate of foreclosure has increased exponentially to three times more than the number reported last year, for the same period.
Detroit, with one in 29 households going for foreclosure, recorded the second highest foreclosure rate. A total of 28,705 foreclosure filings were made on 20,231 properties, which is almost double the number reported from Jan-June 2006.
Las Vegas documented one foreclosure filing for every 31 households, making it the third highest in foreclosure activity among the 100 metro areas. It reported 22,928 foreclosure filings on 13,028 properties, double the number reported during the first half of 2006.
Six of the top 20 metro areas with the highest foreclosure rates were in California and four in Ohio.
The following are the top 20 U.S. housing foreclosure markets from Jan to Jun 2007, the total number of foreclosure filings and households per foreclosure filing.
1. Stockton, California: 8,169 foreclosure filings; one foreclosure filing for every 27 households.
2. Detroit/Livonia/Dearborn, Michigan: 28,705 foreclosure filings; one filing per 29 households.
3. Las Vegas/Paradise, Nevada: 22,928 foreclosure filings; one filing per 31 households.
4. Riverside/San Bernardino, California: 41,351 foreclosure filings; one filing per 33 households.
5. Sacramento, California: 20,516 foreclosure filings; one filing per 36 households.
6. Denver/Aurora, Colorado: 23,842 foreclosure filings; one filing per 42 households.
7. Miami, Florida: 20,275 foreclosure filings; one filing per 46 households.
8. Bakersfield, California: 5,365 foreclosure filings; one filing per 47 households.
9. Memphis, Tennessee: 10,800 foreclosure filings; one filing per 49 households.
10. Cleveland/Lorain/Elyria/Mentor, Ohio: 8,844 foreclosure filings; one filing per 50 households.
11. Fort Lauderdale, Florida: 15,720 foreclosure filings; one filing per 50 households.
12. Atlanta/Sandy Springs/Marietta, Georgia: 36,502 foreclosure filings; one filing per 54 households.
13. Fort Worth/Arlington, Texas: 13,221 foreclosure filings; one filing per 57 households.
14. Fresno, California: 4,867 foreclosure filings; one filing per 60 households.
15. Indianapolis, Indiana: 11,677 foreclosure filings; one filing per 62 households.
16. Dayton, Ohio: 5,966 foreclosure filings; one filing per 63 households.
17. Dallas, Texas: 23,284 foreclosure filings; one filing per 65 households.
18. Akron, Ohio: 4,378 foreclosure filings; one filing per 70 households.
19. Oakland, California: 13,482 foreclosure filings; one filing per 70 households.
20. Columbus, Ohio: 10,706 foreclosure filings; one filing per 70 households.
2006: Most Active Real Estate Foreclosure Markets
Posted by james in Real Estate on August 1st, 2009
The foreclosure market is an attractive option for buyers wanting to invest in real estate. A foreclosed property is a mortgaged property that has been taken over by the lender due to non-payment of the mortgage. The lender then sells the property in order to recover the money, often at below market prices. Foreclosed homes, condos and other properties can for make excellent investments and is a popular choice for those entering the real estate market.
The October 2006 issue of Business 2.0 Magazine ranks the top 10 foreclosure markets in the United States. Greeley in Colorado tops the list followed by Detroit in Michigan, Miami in Florida, Indianapolis in Indiana, Ft. Lauderdale in Florida, Denver in Colorado, Dayton in Ohio, Dallas and Fort Worth in Texas, and Atlanta in Georgia.
Greeley, CO, has the largest number of foreclosure households in the country, with 0.59% of homes falling in the category, an increase by 14.7% since January 2006. The report holds aggressive residential development, risky underwriting practices and stagnant wages as the main causes.
Detroit, MI, stands next with 0.51% of the households in foreclosure. The badly performing auto industry and the resulting impact to autoworkers’ incomes has contributed to number of homes in foreclosure in this city.
Third on the list is Miami, FL, where 0.37% of the households are in foreclosure, a staggering 91% increase since January 2006. The report states a weakening economy, higher property insurance premiums, and rising energy and interest rates, as the reasons for this rapid increase.
The fourth among the top ten foreclosure markets is Indianapolis, IN. Although the foreclosure rates are slightly lower from last year, still the portion of households in foreclosure stands at 0.35%. Setbacks and layoffs in the city’s auto industry together with falling home prices have contributed to foreclosure rates in this city.
Fort Lauderdale, FL, stands fifth with 0.34% of households entering foreclosure, which is up by a whopping 118.5% since January 2006.
Denver (with 0.33% of households in foreclosure), Dayton (with 0.33% of households in foreclosure), Dallas (with 0.31% of households in foreclosures), Fort Worth (with 0.31% of households in foreclosure) and Atlanta (with 0.31% of households in foreclosures) round out the top 10 foreclosure markets.
If you are looking to invest in the foreclosure market, consult a real estate agent who can help you clinch the best deal on the foreclosure property of your choice.
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Top 5 Real Estate Markets For Price Increases And Decreases
Posted by james in Real Estate on July 31st, 2009
In its 4th quarter report of 2006, the real estate information site estimates the home value trends for the U.S. and 75 metropolitan areas. According to the data from http://Zillow.com, home values are now declining slightly on a year-over-year basis for the first time in a decade after years of appreciation.
Zillow’s home value data goes back to 1997 and reveals the depreciation of home value rates at 0.48 % year-over-year at the national level. The depreciation in home value every quarter is at 4.77 %. Zillow’s appreciation rate is based on the value of all homes in an area, including those that were sold.
Although there is a fall in the over-all home price growth, areas such as Seattle and Portland are experiencing a surge in home values at good appreciation rates. Besides national home values, the report also presents comprehensive data on local market price growth and decline in 75 metropolitan areas. The Zillow report gives detailed data on home value changes for counties, cities, neighborhoods and ZIP codes in U.S.A.
The top 5 metro areas with the highest price growth, year-over-year, are:
1. Lakeland-Winter Haven, Florida, with an appreciation rate of 25.88 %
2. Yuma, Arizona, with an appreciation rate of 25.66 %
3. Myrtle Beach, South Carolina, with an appreciation rate of 21.24 %
4. Flagstaff, Arizona, with an appreciation rate of 19.02 %
5. Ocala, Florida with an appreciation rate of 17.56 %
The 5 metropolitan areas that have the most declining home values, year-over-year, are:
1. Panama City, Florida, with a depreciation rate of 11.84 %
2. San Luis Obispo-Atascadero-Paso Robles, California, with a depreciation rate of 11.35 %
3. Punta Gorda, Florida, with a depreciation rate of 9.23 %
4. Sarasota-Bradenton, Florida, with a depreciation rate of 8.99 %
5. Greenville-Spartanburg-Anderson, South Carolina, with a depreciation rate of 8.73 %
The Zillow national report also includes the top five most expensive and least expensive metro areas measured by the Zindex home value indicator.
The top 5 metro areas that are most expensive are:
1. San Francisco-Oakland-San Jose, California at $684,459
2. Salinas, California at $654,503
3. Santa Barbara-Santa Maria-Lompoc, California at $627,323
4. Honolulu, Hawaii at $626,452
5. Los Angeles-Riverside-Orange County, California at $545,409
The top 5 metro areas that are the least expensive are:
1. Davenport-Moline-Rock Island, IA-IL at $86,201
2. Peoria-Pekin, Illinois at $91,984
3. Greenville-Spartanburg-Anderson, South Carolina at $96,508
4. Tulsa, Oklahoma at $97,186
5. Dayton-Springfield, Ohio at $103,729
Even within these markets, there are hot and cold housing segments of the community. Be sure to seek out the services of a local real estate agent, who can advise you about local market conditions that impact the price of homes, condos and other types of real estate.
Can U.S. Luxury Real Estate Markets Sustain Home Prices?
Posted by james in Real Estate on July 24th, 2009
Top 10 Luxury Home Markets To Watch for Price Increases or Reductions
The Unique Homes Magazine has listed 25 luxury home markets to watch in 2007 in its January issue. According to the Unique Homes report the 25 luxury markets will indicate where the luxury real estate market is heading to. These markets along with features that make them stand out from the rest are worth watching out for.
The following is a brief report on the top 10 luxury home markets to watch for price increases or reductions in 2007.
1. Annapolis, Maryland. The waterfront city located on Chesapeake Bay offers excellent boating and affordable prices compared to Washington’s luxury enclaves. With Washington and Baltimore within reasonable commute, this city is highly desirable.
2. Asheville, North Carolina. An eclectic ambiance and low-key lifestyle attracts people to Asheville which continues to remain one of the hottest places for luxury home buyers.
3. Aspen, Colorado. From a ski enclave this luxury market has grown into a platinum location. With its four-season appeal and restrictive zoning policies, Aspen is still a highly-sought after destination.
4. Atlanta, Georgia. The city offers several new upscale communities, numerous lifestyle amenities, retreats and much sought after waterfront luxury homes.
5. Austin, Texas. A strong real estate market that saw record gains in 2006, the reputable University of Texas, the scenic lakes and the great music attracts buyers to this hill country.
6. Bellevue/Medina, Washington. With prices going up at 28 percent, the market has still not peaked and several upscale neighborhoods are available at a lower price range when compared to other markets.
7. Beverly Hills, California. One of the top ranked luxury markets that is perpetually in demand, Beverly Hills continues to be untarnished and idolized as the Mecca for luxury. Hollywood Hills is currently a hot market for buyers.
8. Idaho. The growing resort markets in the state garner attention for the state that is making its presence felt in the luxury home market.
9. Jupiter, Florida. The boom has arrived here after Tiger Woods’ purchase of a 10-acre estate for $38 m. The market continues to surge on this exclusive island.
10. Manhattan Uptown, downtown, midtown. The luxury market is upbeat with record sales of more than $5 m in 2006 accelerated by Wall Streeters. Co-ops and town houses are favorites among buyers here.
If you are interested in buying or selling a home, condo or any other type of real estate in any of these markets, be sure to seek out the services of a real estate agent to advise you about current local market conditions.
Top 7 International Real Estate Markets
Posted by james in Real Estate on July 23rd, 2009
Based on several factors that include lifestyle, retirement, opportunities for fun and investment, International Living magazine has chosen the world’s seven hot spots for 2007. Still virtually unnoticed by the world’s tourists, these seven regions are the best international real estate markets in 2007. They are:
1. Montenegro: This spectacular European country on the Adriatic Sea that many have almost forgotten has topped the list of best international real estate markets. The aquamarine sea, enthralling mountain backdrop, captivating summer villas and quaint fishing villages are just a few features of this jaw-droppingly beautiful country. An ideal tourist spot, this country has been adjudged the ‘fastest growing travel and tourism economy’ by the World Travel and Tourism Council.
2. Cartagena, Colombia: This is an ancient walled city embellished by magnificent Spanish colonial architecture and flanked by white-sand beaches. The city offers a warm weather, affordable lifestyle, and world-class diving and snorkeling for tourists and locals alike.
3. Malaysia: Southeast Asia’s top retirement haven, country is a very affordable destination. Malaysia offers a western lifestyle and a host of attractions including modern infrastructure, cheap accommodation and innumerable cultural charms. Its beautiful white beaches and clear blue waters offer sailing, diving, snorkeling, etc.
4. Calabria, Italy: A sunniest corner of Europe, Calabria is a beautiful peninsula that is enveloped by clear silver-blue sea on three sides. Life happens in a very leisurely manner in this place that possesses all the charms of a medieval village. A promising real estate market, the region is well connected by the low-cost Euro-carrier RyanAir.
5. Ciudad Vieja, Uruguay: This is another of the world’s inexpensive cities that remains undiscovered yet. The city has seen a booming real estate market since 1995 and the upward trend is sure to continue through 2007 too. Also ranked as one of the top 10 cheapest cities in the world last year, Ciudad Vieja remains one of the best places to invest this year.
6. Honduras Cloud Forest: With acres of mountain forests of breathtaking beauty, this mountain paradise is just minutes from a charming beachside town and an international airport. One can access this town by air in less than 2 hours from many places in the U.S. With the area poised for a real estate boom in a few years down the line, now is the time to buy.
7. Mexico’s Flamingo Coast: An enticing stretch of coastline with dozens of quaint little beach towns, side-by-side, the Flamingo Coast offers great beachside living and a laid back lifestyle. Its warm weather, white sandy beaches, emerald-green waters and cheap rentals are some of the attractions the region offers.
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U.S. Real Estate Markets With Consistent Price Appreciation
Posted by james in Real Estate on July 17th, 2009
Buying home, condo or any other real estate in a market that is protected from a bursting bubble is every investor’s dream. Knowing where to look for these bubble-proof markets and how to identify them is crucial.
There are some important factors that investors should consider when searching for stable investments such as single-family homes, condos or any other type of real estate. Some of these factors include a fast growing population (which positively impacts the demand for housing), a solid and diverse economy (which impacts employment rates and subsequent demand for housing), rising incomes (which impacts buyers’ ability to purchase real estate), a developing infrastructure (which contributes to the appeal of a city or community), and restrictions on future real estate development (which limits future supply of real estate). Investing in real estate within communities that meet these criteria may prove to be more profitable than communities that are missing one or more of these factors.
A recent report by Business 2.0 Magazine identified U.S. cities that have consistently demonstrated price appreciation in the real estate market. The October 2006 issue of the Magazine identified the top 5 real estate markets that demonstrated an upward price trend over a long period time. The top-ranking cities were:
1. San Francisco, California
2. Los Angeles, California
3. Seattle, Washington
4. Boston, Massachusetts
5. New York City, New York
San Francisco topped the list with an average annual home price appreciation of 4.2% from 1949 to 2006. In contrast, the national average was 2.3%. Strong restrictions on real estate development and a limited geography helped push San Francisco to the top slot.
Los Angeles ranked second in the report. The average annual home price appreciation in Los Angeles was 3.7% from 1949 to 2006. Reductions in available land and increasing restrictions on further development helped pushed Los Angeles to the number 2 slot.
Home prices in Seattle, which was third on the list, demonstrated an average appreciation rate of 3.2% from 1949 to 2006. While Seattle made the top 5 list, recent easing of building restrictions may cause Seattle to fall out of the top 5 over the next few years.
Boston was fourth in the rankings. The city has seen annual home prices appreciate by 3% over the period from 1949 to 2006. A strong increase in per capita income contributed to Boston’s high ranking.
New York City follows close behind with an average annual home price appreciation of 3% from 1949 to 2006. A limited geography, large population, and finite number of properties contributed to New York’s high ranking.
While there is no guarantee that any of the real estate markets listed previously are truly “bubble proof,” the factors described above may help investors find the profitable markets and avoid “bubble” markets. Since the real estate market is constantly changing, be sure to seek out the services of a skillful real estate agent to help you navigate your next real estate purchase.
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Role Of Real Estate Agent In Vacation And Second Home Markets
Posted by james in Real Estate on July 12th, 2009
Second home sales have been increasing over the last few years with more people becoming second home owners. In 2005 alone, 40 percent of the homes sold were second homes. Demographics, all time low mortgage rates, and healthy rise in home prices have contributed to this development in the second home market. Besides these, a major factor that has helped augment the buying and selling of second homes is the real estate professional.
The National Association of Realtors conducted research on the profile of second-home owners in 2006. According to the NAR report entitled ‘2006 Profile of Second-Home Owners’, a majority of second home sales transactions are conducted using the services of real estate agents.
The statistics are remarkable; 64 % of vacation home buyers purchased their home using the services of a real estate agent by the end of 2005 – a marked increase from less than 50 % of vacation-home buyers in 2003. Also, 65 % of investment-home buyers purchased their home with the help of a real estate agent – an increase from 53 % of pre-2003. In comparison, only 14 % of vacation-home buyers and 7 % of investment-home buyers purchased directly from builders from 2003 to 2005.
The growing role of the real estate professional is evident from the following figures:
1. Of vacation home sales made, 71 % of them were second homes and 74 % of the sales were made using the services of a real estate agent.
2. Of the investment properties sold, 85 % of them were previously owned and 62 % of the sales were made using the services of a real estate agent.
The use of real estate agents in second home sales transactions varied according to the home’ location.
1. Buyers used a real estate agent more frequently while purchasing a vacation home located in a suburb/subdivision (56 %) or a rural area (57 %) than for homes in other locations.
2. About 66 % of buyers who purchased an investment property in an urban/central city area or in a suburb/subdivision, used the services of a real estate agent more frequently than those who purchased a home in other locations.
Real estate professionals continue to be the first source of information to second-home buyers (38 % of vacation-home buyers and 34 % of investment-home buyers). The real estate professional also plays a major role when second-home owners plan to buy additional properties. If you are thinking of buying a second home or vacation home, seek out the services of a real estate agent to guide you through your next home purchase.
1. The percentage of second home owners who are more likely to use a real estate agent in their next home purchase is quite high. Among vacation-home owners it is 79 % and investment-home owners 73 %.
2. Among second home owners, 65 % of vacation-home owners and 64% of investment-property owners are more likely to use a real estate agent in their next home sales.
Given these statistics, it is no wonder that the real estate agent plays a pivotal role in helping people buy and sell second homes. So whether you are a second-home buyer or seller, enlist the services of an agent for a smooth, hassle free real estate transaction.
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